Chun v. Fluor Corporation, et al
Fluor Securities Settlement
3:18-cv-01338-X

Welcome to the Fluor Securities Settlement Website

The information contained on this website is only a summary of the information presented in more detail in the Notice of Proposed Settlement of Class Action, Motion for Attorneys' Fees and Expenses, and Settlement Fairness Hearing. Because this website is just a summary, you should review the Notice for additional details.

Summary of the Action and Settlement

This website relates to a pending securities class action  known as Chun v. Fluor Corporation, et al., Case No. 3:18-cv-01338-X (the “Action”).  The United States District Court for the Northern District of Texas is in charge of the Action and the case has been overseen by the Honorable Brantley Starr.

This Action brings claims against Defendants for alleged violations of provisions of the Securities Exchange Act of 1934 (the “Exchange Act”).  The First Amended Class Action Complaint (“FAC”) pleads, among other things, that Defendants made misrepresentations and/or omissions of material fact in public statements to the investing public regarding the bidding, construction, accounting treatment, and financial reporting concerning large, fixed-price projects.

Plaintiffs and Defendants have reached a proposed Settlement. If approved by the Court, the Settlement will provide a gross amount of Thirty-Three Million dollars ($33,000,000) (the “Settlement Amount”), plus interest earned thereon, minus attorneys’ fees, costs, administrative expenses, and any awards to Lead Plaintiffs, and net of any taxes, to pay claims of investors who purchased or otherwise acquired Fluor common stock during the Settlement Class Period.

The Settlement Class includes all persons or entities who purchased or otherwise acquired the common stock of Fluor (NYSE: FLR) between August 14, 2013 and February 14, 2020, both dates inclusive.

Excluded from the Settlement Class are Fluor and the Individual Defendants David T. Seaton (“Seaton”), Biggs C. Porter (“Porter”), Bruce A. Stanski (“Stanski”), Matthew McSorley (“McSorley”), Gary G. Smalley (“Smalley”), Carlos M. Hernandez (“Hernandez”), D. Michael Steuert (“Steuert”), and Robin K. Chopra (“Chopra”).

The Settlement resolves the lawsuit concerning whether Defendants violated U.S. federal securities laws by allegedly issuing materially false and misleading statements.  Defendants and Lead Plaintiffs disagree on liability and damages.  Defendants deny the lawsuit’s allegations and all charges of wrongdoing, fault or liability against them arising out of any of the conduct, statements, acts or omissions alleged, or that could have been alleged, in the Action.  Lead Plaintiffs believe that their claims have merit and that, if they prevailed on all of their claims and the Court accepted their theory of damages, the Class would have been able to collect a substantial amount of money, assuming that the full amount of the judgment was collectable.  The Parties disagree on how much money could have been won if the investors won at trial.

Your legal rights will be affected whether you act or do not act.  If you do not act, you may permanently forfeit your right to recover on any claim you might have.  Therefore, you should read the Notice carefully.

 

CLASS MEMBERS’ LEGAL RIGHTS IN THE SETTLEMENT:

SUBMIT A CLAIM FORM

The only way to get a payment. Proof of Claim and Release Forms must be received by mail no later than October 14, 2022 or submitted online no later than 11:59 p.m. (PST) on October 14, 2022.

EXCLUDE YOURSELF

Get no payment.  This is the only option that allows you to ever be part of any other lawsuit against the Defendants or any other Released Parties about the legal claims in this lawsuit.  Requests for Exclusion must be received no later than October 17, 2022.


OBJECT

Write to the Court about why you do not like the Settlement, the Plan of Allocation, and/or the request for attorneys’ fees, costs, and expenses or Lead Plaintiffs’ awards.  You still will be a member of the Settlement Class.  Objections must be received by the Court, Lead Counsel, and Defendants’ counsel by October 17, 2022.


GO TO THE HEARING ON NOVEMBER 7, 2022 AT 10:00 AM AND INDICATE INTENTION TO APPEAR
 
Filing a written objection and intention to appear by October 17, 2022 allows you to speak in the Court, at the discretion of the Court. If you submit a written objection, you may (but you do not have to) attend the hearing and, at the discretion of the Court, speak to the Court about your objection. 

DO NOTHING
Get no payment.  Give up your rights.  You will, however, still be a Member of the Settlement Class, which means that you give up your right to ever be part of any other lawsuit against the Defendants or any other Released Party about the legal claims being resolved by this Settlement and you will be bound by any judgments or orders entered by the Court in the Action.

 

How do I obtain more information?

For further information regarding the Action or the Notice or to review the Stipulation of Settlement dated March 25, 2022 (the “Stipulation”), please download a copy from the 'Notice' page or "Important Documents' page on this website. Additional information may also be obtained from the Claims Administrator toll-free at (888) 964-2130 or at  Fluor Securities Settlement, c/o JND Legal Administration, P.O. Box 91325, Seattle, WA 98111.  You may also contact representatives of Lead Counsel for the Settlement Class by contacting Matthew L. Tuccillo or Jennifer Banner Sobers, Pomerantz LLP, 600 Third Ave., 20th Floor, New York, NY 10016, (212) 661-1100 and/or Darryl J. Alvarado or Ellen Gusikoff Stewart, Robbins Geller Rudman & Dowd LLP, 655 West Broadway, Suite 1900, San Diego, CA  92101, (800) 449-4900. Please do not contact the Court or Defendants regarding this Notice.

 

 

For More Information

Visit this website often to get the most up-to-date information.

Mail
Fluor Securities Settlement
c/o JND Legal Administration
PO Box 91325
Seattle, WA 98111